McIlrath & Eck LLC Sells 94 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

McIlrath & Eck LLC decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,306 shares of the wireless technology company’s stock after selling 94 shares during the quarter. McIlrath & Eck LLC’s holdings in QUALCOMM were worth $201,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Tallon Kerry Patrick bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $207,000. Zhang Financial LLC lifted its position in QUALCOMM by 3.1% during the fourth quarter. Zhang Financial LLC now owns 5,694 shares of the wireless technology company’s stock valued at $875,000 after purchasing an additional 172 shares during the last quarter. LaFleur & Godfrey LLC grew its stake in shares of QUALCOMM by 10.6% in the 4th quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company’s stock worth $480,000 after buying an additional 300 shares in the last quarter. Regent Peak Wealth Advisors LLC increased its holdings in shares of QUALCOMM by 3.4% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 2,058 shares of the wireless technology company’s stock worth $316,000 after buying an additional 68 shares during the last quarter. Finally, Pure Financial Advisors LLC raised its position in shares of QUALCOMM by 42.6% during the 4th quarter. Pure Financial Advisors LLC now owns 24,300 shares of the wireless technology company’s stock valued at $3,733,000 after buying an additional 7,255 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the sale, the chief financial officer now owns 57,728 shares in the company, valued at approximately $7,568,140.80. This trade represents a 0.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,312 shares of company stock valued at $1,948,379 over the last 90 days. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on QCOM shares. Seaport Res Ptn raised QUALCOMM to a “hold” rating in a research note on Friday, May 9th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday, April 29th. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Susquehanna dropped their price target on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $192.08.

QUALCOMM Trading Up 0.1%

NASDAQ:QCOM opened at $153.82 on Wednesday. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The firm has a 50 day moving average of $145.99 and a 200 day moving average of $156.70. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $168.89 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 2.01 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. QUALCOMM’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.44 EPS. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.31%. The ex-dividend date is Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is 36.25%.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.